ACC 210 Exam 1 at NC State – Study Tips & Resources.
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, ACC 210 Exam 1 at NC State – Study Tips & Resources.
1. Asset something that has future eco-
nomic benefit
2. Asset examples cash, accounts receivable,
inven- tory, prepaid
insurance, equip- ment
3. Liability a debt owed to others
4. Liability examples accounts payable, unearned
rev- enue, note payable
5. Dividends money that a company has
promised to give to its
stockhold- ers
6. Equity Common stock, retained earn-
ings, revenues
7. Accounting equation assets= liabilities +
stockholders equity
8. Intangible asset derives its value from the
rights and privileges it
provides the owner.
9. The statement of cash flows would disclose in the financing activities
the payment of a dividend where? section.
10. The relationship between current assets and
cur- rent liabilities is important in liquidity
evaluating a compa- ny's
11. 1.40:1 (assets/liabilities)
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9
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9
, ACC 210 Exam 1 at NC State – Study Tips & Resources.
1. Asset something that has future eco-
nomic benefit
2. Asset examples cash, accounts receivable,
inven- tory, prepaid
insurance, equip- ment
3. Liability a debt owed to others
4. Liability examples accounts payable, unearned
rev- enue, note payable
5. Dividends money that a company has
promised to give to its
stockhold- ers
6. Equity Common stock, retained earn-
ings, revenues
7. Accounting equation assets= liabilities +
stockholders equity
8. Intangible asset derives its value from the
rights and privileges it
provides the owner.
9. The statement of cash flows would disclose in the financing activities
the payment of a dividend where? section.
10. The relationship between current assets and
cur- rent liabilities is important in liquidity
evaluating a compa- ny's
11. 1.40:1 (assets/liabilities)
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9
